CHAPTER 15. FULLY REGISTERED AND BOOK ENTRY OBLIGATIONS
IC 5-1-15
Chapter 15. Fully Registered and Book Entry Obligations
IC 5-1-15-1
Application of chapter
Sec. 1. This chapter applies to any entities issuing bonds that are
named in IC 5-1-1-1.
As added by P.L.44-1983, SEC.7.
IC 5-1-15-2
Form of obligations; interchangeable nature
Sec. 2. Notwithstanding any other provision of law, bonds, notes,
evidences of indebtedness, or other written obligations may be issued
in fully registered or book entry form, and may be interchangeable
in any manner provided for by the issuing entity.
As added by P.L.44-1983, SEC.7.
IC 5-1-15-3
Delivery; registrar or paying agent; deposit; certificates
Sec. 3. (a) Bonds, notes, evidences of indebtedness, or other
written obligations issued in book entry form shall:
(1) not be delivered to the owners thereof; and
(2) have a registrar or paying agent that may be:
(A) the issuing entity;
(B) a bank or trust company; or
(C) a securities depository corporation.
(b) In connection with issuance in book entry form, the following
may be done:
(1) A written instrument may be deposited with the registrar or
paying agent.
(2) Participation certificates or certificates of beneficial interest
may be issued to the owner by the issuing entity, registrar, or
paying agent.
As added by P.L.44-1983, SEC.7.
IC 5-1-15-4
Employment of bank or trust company
Sec. 4. The entity may employ any bank or trust company as
paying agent or registrar, co-registrar, or depository institution. The
bank or trust company need not be a depository bank under IC 5-13,
and need not be located within the state of Indiana.
As added by P.L.44-1983, SEC.7. Amended by P.L.3-1990, SEC.19.
IC 5-1-15-5
Confidentiality of books and records
Sec. 5. Notwithstanding any other provision of law, registers or
registration books or transfer records for bonds, notes, evidences of
indebtedness, or other written obligations of any entity are not public
records, but are only for the use of the entity, any trustee, fiduciary,
paying agent, registrar, co-registrar, or transfer agent. A trust
department of a bank having possession of these records shall not
disclose them to a bond department, commercial department,
subsidiary of the bank, or a subsidiary of the parent corporation of
the bank.
As added by P.L.44-1983, SEC.7.
IC 5-1-15-6
Register
Sec. 6. Registrars of bond issues shall keep a register of
ownership of bonds.
As added by P.L.44-1983, SEC.7.